People fly thousands of miles to exotic locations just so they can sit on the beach, sip a pina colada and watch a perfect sunset. Wouldn’t it be great if you could avoid all of the expense and inconvenience and still get to see the perfect sunset? Well, you can, and for many of us, it’s right in our backyard at the grand lady of Bradenton Beach.

The BeachHouse Restaurant has been perched at the edge of the blue green waters of the Gulf of Mexico since 1993 overlooking 650 feet of beautiful Gulf beaches. Becky Shannon, the general manager since 1996, and Will Manson, the BeachHouse’s chef for the past 11 years, have made it their mission to maintain the iconic restaurant’s beach vibe and great food.

Menu selections at the BeachHouse are incredibly extensive ranging from one of their most popular items, coconut shrimp or calamari appetizers, to stuffed tilapia or filet mignon for dinner. There are a variety of lunch sandwiches including their beach burger or mahi sandwich and, of course, soups and tempting desserts.

The BeachHouse also has an early bird value menu with $9.99 fish tacos and $7.99 beach burgers among many other choices. Combine this with their “Toes In The Sand” happy hour featuring $2 drafts and $4 margaritas or pina coladas or one of their appetizer specials for an affordable and tasty dinner.

The most recent and very exciting addition to the BeachHouse food family is sushi. Suggested by one of the restaurant’s chefs, Sean Shannon, and encouraged by staff and customers their Sushi and Sunsets program has taken off and is now a permanent addition to the menu. Tyler Kissel and Sean Shannon are the sushi chefs who fill made-to-order requests and authentically hand roll all dishes using sushi grade yellow fin turn among other fresh ingredients. Some of the menu choices include makimono, nigini, sashimi as well as wakami, ginger and edamame salads. Becky Shannon points out that not only is sushi colorful, healthy and offers a nice variety, it’s also just the right thing for a beach dining experience.

Except for special events, there is entertainment every night. The summer features Tropical Tuesdays with steel band music and don’t forget the nightly sunset contest where you can win a bottle of champagne for guessing the exact time of sunset.

Beach weddings have become one of the BeachHouse’s signature events with multiple weddings during the course of a week. The restaurant boasts two covered pavilions that can accommodate parties and weddings from 20 to 200 people.

Chef Manson creates daily specials frequently based on local fish caught and delivered daily. He hand cuts all of the restaurant’s meat and fish and purchases in season local and sustainable products. Somehow the award winning chef still finds time to appear on ABC 7 News for a weekly cooking demonstration.

Becky Shannon emphasizes that the BeachHouse Restaurant is your neighborhood beach house designed for everyone to come in and have a great time while enjoying creative and affordable food and one of the most fabulous views on the entire west coast of Florida. She is thankful for a wonderful staff who provide great service in a very caring manner.

Both visitors and locals have been coming to the BeachHouse for years because of its stunning location, casual beach atmosphere and fresh affordable food. It offers something for everyone from sushi at sunset to magical beach weddings. And for those of us who are lucky enough to live the dream all year ‘round, all you have to do is cross the bridge for your mini exotic vacation and glorious rainbow sunset.

BeachHouse Restaurant

200 Gulf Drive N.
Bradenton Beach
941-779-2222

www.groupersandwich.com

Every day
11:30 a.m. to 10 p.m. Early Bird:
Mon. – Fri., 3 to6 p.m.

Happy Hour: Mon. – Fri., 3 to 6 p.m.

All major credit cards accepted

 

Thanks to the Sun reader who called to suggest this topic. I’m happy to communicate about topics that are important to our readers, so keep the suggestions coming. Master Limited Partnerships are commonly referred to as MLPs. It is a corporate structure authorized by federal legislation, and allowed for businesses in certain industries primarily it the natural resources arena. Ninety percent of the MLP's revenue must come from qualifying sources, usually the production, processing, or transportation of products like oil, gasoline natural gas or coal.

Investors can invest in MLPs by buying units of ownership in a brokerage transaction just like a stock trade. Units are commonly traded on the New York Stock Exchange and the NASDAQ market.

Why invest in MLPs? Past performance shouldn't ever be the main reason to invest, but this market segment has proven to be one of the best performing asset classes over the last three, five and 10 year periods. Fundamentals of the move toward less dependence on foreign sources of energy bode well for the future growth of companies in the business of producing and transporting energy related natural resources from their point of extraction to the refining facilities or final distribution facilities. Unit prices of MLPs fluctuate in a similar manner to stocks and investors should understand the potential for volatility before investing.

Shareholders (technically known as "limited partners") receive an immediate reward of a reasonably high distribution rate, typically in the 5 to 7 percent range. This distribution represents the limited partner's share of the profits from operations and tends to be significantly tax deferred due to the pass-through of depreciation expense of the pipelines or production facilities. This current tax benefit is not a total avoidance of taxes however, as the cost basis of the limited partners units is reduced by the amount of the tax shelter, which means that the capital gains when units are ultimately sold will be higher. But, since long-term capital gains are generally taxed at lower than normal income rates, there is still a significant benefit.

In addition to the current income and tax benefits, over time the value of ownership units of MLPs has tended to rise over time similar to the values of good quality common stocks. One interesting aspect of the structure of MLPs is that the general partner's level of profit can only go up when the limited partner's level of distribution goes up. This is a unique feature which aligns the interests of the people running the day to day operation with the investors in the enterprise, like you and I.

One word of caution related to investing in MLPs inside IRAs or other tax qualified accounts. Income from MLPs inside these retirement accounts greater than $1,000 a year triggers a clause known as "unrelated business income" and you would have to pay taxes on the income even though it was produced in your tax-deferred retirement account.

A development in the last few years helps avoid unrelated business income. When MLPs are contained in a mutual fund or exchange traded fund there is no tax impact from the income inside IRAs, no mater how large the level of income is. Several mutual funds and exchange traded funds are now available for everyday investors, providing diversification, professional management, and the ability to invest inside of retirement accounts, all while enjoying the benefits of this unique asset class.

One last thought which is a word of caution. One reason MLPs have done really well in recent years has to do with the ultra-low interest rate environment we are in and the desire of investors to earn higher yields than available on government bonds and CDs. If and when interest rates rise to more normal levels, MLPs dividend yields may seem a bit less attractive compared to some other guaranteed investments, and could come under some price pressure. The flip-side to this is that over time, MLPs tend to raise their distribution rates, so unit holders can see their income go up over time, a benefit not generally associated with government bonds or CDs.

Tom Breiter is president of Breiter Capital Management, Inc., an Anna Maria based investment advisor. He can be reached at 778-1900. Some of the investment concepts highlighted in this column may carry the risk of loss of principal, and investors should determine appropriateness for their personal situation before investing. Visit www.breitercapital.com.